Alca-Lu secures network deal in New Zealand

Telecom New Zealand had signed a NZ$130 million (€62.7 milion) deal with Alcatel-Lucent to build a new internet protocol phone network, a Reuters report said.

Telecom said the network would be completed in December 2009 and would bring voice, data and mobile services on to one technology platform.

Shares in Telecom, the top stock, last traded up 0.6% after trading last week, the report further said.